Did you know that more than half of homeowners in the United States renovated a part of their property in 2021? While 2021 saw the largest number of projects by homeowners in the last 5 years 2022 is projected to be a year of even more spending. With this higher average planned spending per project ($10,000 in 2018 to $15,000 in 2022) comes a large amount of interior upgrades including kitchens and bathrooms, but one upgrade has continued its popularity since its peak in 2020. This popular home improvement project is not inside the home, but rather creating a living space outside. Outdoor living has been a huge priority for homeowners looking to upgrade an existing space.
After COVID-19 sparked the shift to outdoor living upgrades in 2020, there has been no sign that outdoor renovations are going anywhere. As work from home becomes more permanent, renters turn to homeowners and investors continue to flip/build homes, outdoor upgrades still account for 54% of all the home renovations across the country. While for general contractors these outdoor upgrades can be everything from a new pool to new outdoor lighting, there is a strong chance that these upgrades are for plantings, mulching and accent walls as the search volume for "landscapers" on Houzz is up 42% from last year. Another popular outdoor living project Houzz is reporting through the first half of the year is the number of searches for "hot tubs on decks" is up 130% from Q1 2021 to Q1 2022.
While residential homeowners with private spaces continue to upgrade their spaces builderonline.com reported results from the America at Home Study which surveyed "thousands of adults that teased out thoughts about design and what changes they’d like to see in new homes and communities." One of the major takeaways from that report is that 52% of respondents would trade their own private yard space for a larger and more developed outdoor activities area in their community. For developers, this is a huge takeaway as new communities continue to pop up across the United States. Allocating space on these new properties for community outdoor living spaces and green area is no longer an option. Outdoor living spaces at the private and community level will affect a home buyer's decision as community green spaces become as popular as a college quad.
Overall whether renovating or building in 2022, outdoor living continues to be a focus and with more planned money being allocated toward home renovations this year, it has never been a better time to be a builder, mason, landscaper, or general contractor.
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